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Wuxi-Singapore Industrial Park

Updated: 2018-06-06

Wuxi-Singapore Industrial Park

The Wuxi-Singapore Industrial Park was jointly developed by the Wuxi municipal people's government and Singapore-listed Sembcorp Industries (SCI) Group. It was founded at the end of 1993.

Since Wuxi-Singapore Industrial Park was founded 14 years ago, both parties have been sticking to sincere cooperation, equality and mutual benefits. They have been fully utilizing Wuxi's location advantage as well as economic and social development advantages with reference to Singapore's successful experience in the development of Jurong Industrial Park and Batamindo Industrial Park. A benign development path that features intensive development, huge investment, one-stop service and high benefits is preliminarily taking shape to build an international high-tech industrial park and provide better service to investors. The industrial park has also put great emphasis on its characteristic development of the electronic information industry and the precision machinery industry. To date, Wuxi-Singapore Industrial Park has completed a development area of 3 square kilometers based on higher standards.

As of the end of 2007, the park had 88 foreign-funded enterprises, with contracted foreign capital reaching $2 billion and foreign capital in place reaching $1.6 billion. In the park, there are over 30 enterprises with projects in excess of tens of millions of US dollars, including such world-renowned corporations as Seagate Technology, Donaldson, Panasonic, Murata Manufacturing, Sumitomo Corporation, Alps Electric, Maxell, Mitsui, German Infineon Technologies and Italian MTS.

In order to meet the various demands of investors, the park also provides auxiliary facilities, including international schools, training centers, clinics, apartment clubs and logistic companies. In addition, good investment services in the industrial park facilitate the progress of the vast majority of projects and the expansion of investment scale. Over 40,000 jobs have been created. In 2006, the annual sales revenues of the enterprises in the park amounted to 40 billion yuan ($6.53 billion). The foreign exchange earnings from export amounted to $4 billion, and the self-support export value ratio accounted for 25 percent and above in Wuxi. Nowadays, criss-cross roads look wide and even, novel plants can be seen here and there, and international merchants and high-tech enterprises are attracted to this promising land. In a word, a green and vigorous high-tech industrial park is emerging.

The industrial park, featuring good investment environment and outstanding development performance, has received widespread attention at home and abroad. Wuxi-Singapore Industrial Park has come out on top in terms of comprehensive investment environment among 25 well-known high-tech parks in Asian and Pacific Regions by Enterprise Assessment magazine of the UK for three consecutive years. Party and State leaders like Wen Jiabao, Li Changchun, Wu Yi, Li Peng, Li Lanqing, Wei Jianxing, Rong Yiren and Song Jian have successively visited and praised the park. Singapore Minister Mentor Lee Kuan Yew was very satisfied with the development performance of the park during his visit in October 1997. Over the past 10 years, Wuxi-Singapore Industrial Park has been built into a window of Wuxi in order to reform and open-up to the outside world.

Wuxi-Singapore Industrial Park has made great contributions to society in the past 14 years. The developer, Wuxi-Singapore Industrial Park Development Co (WSIP), has stepped into a sustainable development path of developing, serving and running the industrial park. It has become a first-rate integrated service provider for a high-tech industrial park. In May 2002, both Sino and Singapore parties decided to adjust the shareholding ratio. The Chinese side holds 51 percent of shares, while the Singapore side holds 49 percent of shares. Meanwhile, both sides have made capital contributions upon the new ratio. Thus, the registered capital has reached $860 billion, and the total investment has amounted to $258 million. In the past decade, the company has constructed plants covering 250,000 square meters for enterprises in the park. The "tailor-made" workshop services in the leasing service of standard plants are appreciated by investors. During the second half of 2007, the company signed a contract with Wuxi Suntech Power Co for the investment, construction and operation of Wuxi Suntech Photovoltaic Industrial Park.

The third phase of park development is now under way. Wuxi-Singapore Industrial Park is cordially welcoming investors from home and abroad.